Best Crypto Exchanges UK in January 2025

The best way to buy crypto in the UK is via online exchanges. They’re similar to stock brokers but specialize in crypto assets, whether that’s Bitcoin, Dogecoin, or Litecoin.

Selecting the right exchange requires careful consideration, including key factors like fees, licensing, payment methods, and user-friendliness.

This guide ranks the best crypto exchanges in the UK, ensuring a safe investing experience. I also explain how exchanges work, how to get started, and what risks to consider.

Top UK Crypto Exchanges: Detailed Reviews for Investors

The above crypto exchange list covers the best options for UK investors. I’ll now provide detailed reviews of the top platforms, covering available markets, trading fees, accepted deposit methods, and more.

1. eToro – The Safest Place to Buy Crypto and the Best Option for Beginners

• Available Crypto Coins: 100+
• Minimum Deposit: $100 (about £77)
• Crypto Trading Fees: 1%
• GBP Purchases: Yes, deposit GBP then manually buy crypto
• FCA Approved: Yes
• KYC Required: Yes
• Free App: Yes, iOS and Android

eToro is the best crypto exchange in the UK for two key reasons; safety and user-friendliness. It’s a regulated platform with multiple licenses, including the Financial Conduct Authority (FCA). It ensures UK investors can buy and sell crypto in a secure environment; client-owned coins are kept in cold storage and GBP balances are held in segregated bank accounts.

eToro is also regulated in other regions, including Europe and the US. Beginners will like the simple and fast investment process. Opening an eToro account takes minutes and deposits are instant when using a debit/credit card or e-wallet. Over 100 crypto coins are available, including Bitcoin, Solana, Ethereum, Litecoin, and Cardano.

Not to mention the best meme coins, such as Dogecoin, Bonk, Pepe, and Shiba Inu. eToro users can also invest in other assets, including thousands of shares from the UK and international markets. ETFs, forex, indices, and commodities are also hosted. eToro also offers copy trading tools to automate investments, with trades copied from an experienced pro.

Fees to Trade Crypto

eToro users pay a 1% commission when buying and selling crypto. This is on the pricey side when compared to other exchanges.

Top Features

eToro’s passive investing tools stand out, including copy trading. It also offers crypto smart portfolios, which are selected and managed by the eToro team.

Security and Regulation

eToro’s most important factor is its FCA approval and regulation. It also holds licenses in Europe, the US, and Australia. Accounts are protected by two-factor authentication (2FA).

Visit eToro

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

2. Margex – Trade Dozens of Crypto Futures With Low Margin Requirements

• Available Crypto Coins: 49
• Minimum Deposit: £4
• Crypto Trading Fees: 0.019% (market makers), 0.06% (market takers)
• GBP Purchases: Yes, buy crypto instantly with GBP
• FCA Approved: No
• KYC Required: No
• Free App: Yes, iOS and Android

Margex is also one of the top 10 crypto exchanges to consider. It’s a good option for experienced crypto investors. This is because it offers futures, meaning you aren’t buying and selling crypto in the traditional sense. Instead, futures enable traders to profit from rising and falling prices. Put otherwise, Margex users can speculate long (price increase) or short (price decrease).

Margex doesn’t require the full investment sum upfront, either. This means you can trade ‘on margin,’ with only 1% required for several crypto coins. For example, suppose you wanted to trade £50,000 worth of Bitcoin. The 1% margin requirement means you’d only need £500 in the Margex account.

Fess to Trade Crypto

Margex users pay commissions depending on whether they’re a market maker or taker. This amounts to 0.019% and 0.06% respectively.

Top Features

Margex’s top feature is its perpetual futures markets, which only require a 1% margin. This can amplify account balances by 100x. Margex also offers copy trading tools.

Security and Regulation

Margex offers high security, including 2FA and proof of reserves. However, it doesn’t hold any licenses and isn’t specifically approved by the FCA.

Visit Margex

3. MEXC – The Best Online Exchange for Building a Diversified Crypto Portfolio

• Available Crypto Coins: 2,900+
• Minimum Deposit: £30
• Crypto Trading Fees: 0% (market makers), 0.02% (market takers)
• GBP Purchases: Yes, buy crypto instantly with GBP
• FCA Approved: No
• KYC Required: No
• Free App: Yes, iOS and Android

I found that MEXC is the best option for building a diversified crypto portfolio. It supports over 2,900 crypto coins, providing ample choice for investors of all risk levels. For example, those preferring large-cap coins can opt for Bitcoin, Solana, Ethereum, or Cardano. MEXC also supports new cryptocurrencies with much smaller market capitalizations.

These offer the highest upside but present the greatest risks. MEXC also accepts GBP payments, enabling users to buy crypto instantly with a debit/credit card. The minimum purchase needed is £30. MEXC also offers advanced trading features, including high-level charts, indicators, and perpetual futures.

Fess to Trade Crypto

MEXC is the cheapest crypto exchange, with market makers getting 0% commissions. Market takers pay 0.02%. These fees are the same for both spot trading and perpetual futures.

Top Features

MEXC is a feature-rich exchange and one of the best ways to invest in cryptocurrency in the UK. It offers everything from leveraged futures and copy trading to staking and advanced chart management.

Security and Regulation

MEXC isn’t a regulated exchange, which is why it doesn’t implement KYC requirements. It does, however, offer 2FA, email confirmations, and proof of reserves.

Visit MEXC

4. Exodus – Buy, Sell, and Swap Crypto via a Secure Non-Custodial Wallet 

• Available Crypto Coins: 100,000+
• Minimum Deposit: £20
• Crypto Trading Fees: Built into the quoted rate
• GBP Purchases: Yes, buy crypto instantly with GBP
• FCA Approved: No
• KYC Required: No
• Free App: Yes, iOS and Android

Exodus is a popular crypto wallet rather than an exchange. This means its primary function is to store crypto coins safely. However, Exodus also offers investment and trading services via third parties. This means users can buy, sell, and trade crypto without leaving the wallet interface. For example, users can buy crypto with GBP via debit/credit cards.

They can also swap one crypto for another, such as Bitcoin for Dogecoin. Any purchased coins are added to the user’s balance, which comes with non-custodial storage. This means the wallet’s private keys (which provide access to the wallet) are only known to the user. As such, Exodus users can store wealth without relying on centralized custodians (like a bank).

Fess to Trade Crypto

Fees for buying, selling, and swapping tokens are determined by partnered providers. They’re built into the quoted rate. Meaning that the exchange rate you see before confirming is what you get.

Top Features

Exodus is a non-custodial wallet, so you can trade and store crypto in one safe place. It comes as an app or desktop software, and nobody but the user can access the private keys.

Security and Regulation

Exodus isn’t regulated, and users are 100% responsible for securing their wallet (like any non-custodial product). A backup passphrase (12 words) is required when losing or misplacing the respective device.

Visit Exodus

5. BloFin – Instantly Invest in Bitcoin and Ethereum With a Debit/Credit Card

• Available Crypto Coins: 300+
• Minimum Deposit: Varies depending on the payment provider
• Crypto Trading Fees: 0.1%
• GBP Purchases: Yes, buy crypto instantly with GBP
• FCA Approved: No
• KYC Required: No
• Free App: Yes, iOS and Android

BloFin offers a simple way to invest in crypto coins. You can instantly buy Bitcoin or Ethereum with a debit/credit card. The process takes minutes, and there are no KYC requirements when opening an account. Withdrawals are often processed straight away, so you can safely transfer the crypto coins to a private wallet.

Alternatively, you can use the purchased coins to trade with other markets. BloFin supports over 300 crypto assets, including everything from TRON, Chainlink, and Shiba Inu to Solana, Cardano, and Dogecoin. It also offers perpetual futures, with the maximum leverage available being 150x.

Fess to Trade Crypto

Like many exchanges, BloFin builds fees into the quoted rate when buying crypto with a debit/credit card. That said, fees are transparent when trading the spot markets. Market makers and takers pay just 0.1% per slide.

Top Features

BloFin is a solid all-rounder, with instant GBP payments, spot trading, and perpetual futures. It also offers copy trading, staking, and fast withdrawals.

Security and Regulation

BloFin operates without regulatory approval, although it does have robust security controls. This includes cold storage wallets, 2FA, and real-time monitoring via Chainalysis.

Visit BloFin

6. Bybit – Top-Rated No KYC Exchange With 1,500+ Tradable Markets

• Available Crypto Coins: 1,500+
• Minimum Deposit: £10
• Crypto Trading Fees: 0.1%
• GBP Purchases: Yes, buy crypto instantly with GBP
• FCA Approved: No
• KYC Required: No
• Free App: Yes, iOS and Android

Bybit is a popular crypto exchange with almost 56 million registered users. It supports over 1,500 coins, including the best cryptocurrencies to buy. For example, you can trade everything from Bitcoin, Dogecoin, and Sui to Pepe, XRP, and Solana. Not to mention Ethereum, dogwifhat, and Popcat.

Bybit markets cover various options. Beginners can instantly buy crypto with a debit/credit card. Spot trading is another option aimed at those with limited experience. Bybit also offers derivatives for advanced users, including perpetual and delivery futures. Bybit has a small minimum requirement of just £10 when using Visa or MasterCard.

Fess to Trade Crypto

Bybit trading fees depend on the product, whether you’re a market maker or taker, and the amount you trade each month. Entry-level commissions when spot trading is 0.1%. Perpetual and delivery futures are charged 0.02% (makers) and 0.055% (takers). Debit/credit card fees are built into the quoted rate.

Top Features

Bybit has one of the largest product offerings, including staking rewards, copy trading, automated bots, and futures. Leverage of up to 200x is available when trading large-cap coins.

Security and Regulation

Bybit is an unlicensed exchange, albeit one of the most popular globally. Client coins are protected by multi-sig wallets that remain offline. Account security includes 2FA and address whitelisting for withdrawals.

Visit Bybit

7. PrimeXBT – Minimum Deposit of £1 When Buying Crypto With Visa or MasterCard

• Available Crypto Coins: 30
• Minimum Deposit: £1
• Crypto Trading Fees: 0.01% (market makers), 0.02% (market takers)
• GBP Purchases: Yes, buy crypto instantly with GBP
• FCA Approved: No
• KYC Required: No
• Free App: Yes, iOS and Android

PrimeXBT is a good option for first-time investors who want to buy small amounts. It instantly supports GBP purchases from just £1. Visa and MasterCard are accepted and no KYC is needed when investing under $2,000 (about £1,500). However, do note that only Bitcoin, Ethereum, USD Coin, and Tether are supported when using a card.

Additional markets are available once the account is funded. This includes almost 30 crypto futures, covering Dogecoin, Solana, and XRP. PrimeXBT is also ideal for mobile trading. Its iOS and Android apps offer a beginner-friendly experience. You can also leverage PrimeXBT’s copy trading tool.

Fess to Trade Crypto

PrimeXBT charges transparent commissions of 0.01% and 0.02%, depending on whether you’re a market maker or taker. Debit/credit card fees are included in the final quote.

Top Features

PrimeXBT offers crypto futures on 30 markets, with leverage of up to 200x. Other features include a mobile app, instant purchases, and copy trading.

Security and Regulation

PrimeXBT does not hold any licenses, so caution is advised. 2FA is available to safeguard accounts.

Visit PrimeXBT

How I Ranked the Top UK Crypto Exchanges (Methodology)

Here’s an overview of my methodology when ranking the best crypto exchanges in the UK:

• Reputation and Safety: I only considered exchanges with a proven reputation for safety. Key security features should include cold storage (the majority of client-owned coins), 2FA, and verifiable proof of reserves. I gave eToro the top position for its FCA regulation, which is rare in the crypto trading space.
• Payment Methods and Minimums: Many UK investors will be buying crypto for the first time. This means exchanges must accept convenient deposit methods, such as Visa, MasterCard, Maestro, and PayPal. I also factored in the required minimum.
• Fees: I also ranked exchanges based on trading fees. This explored commissions for market makers and takers, and whether discounts are available when trading higher amounts. I also assessed deposit and withdrawal fees.
• Available Coins: The best crypto trading platforms in the UK support a wide selection of coins. MEXC and Bybit, for instance, list over 2,900 and 1,500 markets, respectively. This is especially useful when buying less popular coins with smaller market capitalization.
• KYC Requirements: Regulated exchanges like eToro and Coinbase have strict KYC requirements, meaning a government-issued ID is needed. However, I also included platforms offering anonymous accounts. These providers only ask for an email address or mobile number when joining.
• Trading Features: The top exchanges typically offer features for beginners and experienced pros alike. This can include anything from copy trading and automated bots to advanced pricing charts. I ensured each standout feature comes with a user-friendly experience.
• Mobile App: I only included exchanges offering a native mobile app for iOS and Android. This is a core requirement, considering crypto prices are highly volatile. As such, a mobile app provides unfettered access to the crypto markets.

Best UK Crypto Exchanges Compared: Key Takeaways

Let’s revisit the top UK crypto trading platforms by summarizing their key takeaways:

How Do Crypto Exchanges Work?

The best crypto exchanges in the UK typically offer two different ways to invest.

First, beginners will prefer buying crypto with an instant payment method, such as a debit/credit card. The payment is taken immediately in GBP, and the purchased coins are added to the account balance. This is similar to a brokerage service, as you’re buying crypto directly from the exchange’s reserves.

Alternatively, the top crypto exchanges also support spot trading. This is where buyers and sellers are matched via market and limit orders. Meaning, the exchange is merely an intermediary. Prices are determined by demand and supply, and orders are only matched if there’s sufficient liquidity. This option is best suited for intermediate to advanced traders.

Different Exchange Types for UK Crypto Investors

Crypto exchanges can vary in the products and services offered.

Let’s take a closer look at the most common options.

FCA-Approved Exchanges

The best option for UK investors is FCA-approved crypto exchanges, such as eToro and Coinbase. These platforms, while charging higher fees, offer the safest investment experience.

This is because of the FCA’s watchful eye, which includes strict regulatory requirements. For instance, GBP balances must be kept in segregated bank accounts with FSCS protection.

Offshore Exchanges (No KYC)

Some crypto exchanges are located ‘offshore’, meaning they operate outside of the UK. These platforms rarely have KYC processes for registering an account. This means only an email address or mobile number is needed.

Offshore exchanges typically offer the lowest fees and the widest range of crypto coins. They often support complex products like futures and options too, which aren’t available when using an FCA-approved platform.

However, it’s important to remember that offshore exchanges come without consumer protections. They’re often unlicensed, which increases the risks.

P2P Exchanges

Peer-to-peer (P2P) exchanges are another option to explore. You’ll be buying crypto directly from a UK seller, meaning a broad selection of payment methods to choose from. That said, most P2P transactions are conducted via UK bank transfers.

• First, you enter the requirements, such as the crypto and amount.
• Sellers are displayed based on their quoted rate.
• For instance, £100 might get you 0.0019 BTC with one seller, and 0.0021 with another.
• Once you’ve chosen a seller, they transfer the crypto into the P2P escrow wallet.
• This ensures you’re buying crypto from a legitimate seller, and that the coins actually exist.
• Then, you transfer the funds to the seller.
• The crypto is released from escrow and added to the P2P account, which means you can make a withdrawal to a private wallet.

P2P exchanges aren’t the best option if you favor low fees. You’ll almost always pay a higher price than is available on traditional exchanges.

Decentralized Exchanges

Decentralized exchanges (DEXs) are popular with active traders with previous experience. They execute trades via ‘smart contracts’ and ‘liquidity pools,’ ensuring the entire process is decentralized. DEXs don’t require an account; users connect a private wallet and place trades with its balance.

While this means DEXs are ideal for remaining anonymous, you won’t be able to buy or sell crypto with GBP, or any other currency. Instead, you need to already own crypto. Nonetheless, I explain how the best decentralized exchanges work in my comprehensive guide.

How Do Crypto Exchange Fees Work?

Crypto exchanges make money by charging an assortment of fees. This covers trading and non-trading services. Below, I cover the most common fees charged.

Buying Crypto Instantly

The most expensive way to buy crypto in the UK is via an instant payment method. For example, Visa, MasterCard, or PayPal. Fees vary widely depending on the exchange, but this usually exceeds 3%. So, if you purchased £100 worth of Bitcoin, you’d pay £3 in fees.

However, my research shows that many exchanges build fees into the quoted rate. This means you won’t know how much you’re paying unless you compare the rate to the spot price. For example, you might be quoted 0.27 ETH for a £500 debit card purchase. If the spot price amounts to 0.30 ETH for that £500, you’re paying a premium of over 11%.

Depositing GBP Manually

The cheaper option is to manually deposit GBP into an exchange account. Do note that this option is typically only available when using an FCA-approved exchange.

For example, eToro offers fee-free GBP deposits when using a debit/credit card or e-wallet. Those funds can then be used to buy over 100 crypto coins. Similarly, Coinbase allows free GBP payments via a UK bank transfer.

Commissions 

Exchanges generate the vast majority of their revenues via trading commissions. This is similar to traditional stock brokers, where you pay ‘share dealing fees’ whenever you buy or sell. Similar to deposit fees, commissions will vary widely depending on the chosen exchange.

For example, Coinbase charges a hefty 1.49%. So, if you buy £2,000 worth of XRP, you’d pay a £29.80 commission. Conversely, buying £2,000 worth of XRP at MEXC will either cost you £0 (limit orders) or £0.40 (market orders). That’s a huge saving. This is why assessing fees is crucial when reviewing the best crypto exchanges in the UK.

Market Spreads 

Market spreads can make a big difference when evaluating fees. You’ll see two different prices when trading crypto: the ‘bid’ and ‘ask’.

• Bid Price: This is the highest price a buyer will pay for the crypto coin
• Ask Price: This is the lowest price a seller will accept for the crypto coin
• Spread: The difference between the bid and ask prices is the spread

So, if you’re using an exchange with ‘wide’ spreads, it’s costing you more to trade. This is because you need the coin to increase by more to break even. Conversely, exchanges with ‘tight’ spreads offer the best fees.

In most cases, the biggest crypto exchanges have the most liquidity, trading volumes, and active users, meaning the most competitive spreads.

Withdrawing GBP or Crypto

Only a small number of crypto exchanges support GBP withdrawals. These are typically exchanges with FCA approval. This includes eToro and Coinbase, which both offer fee-free payouts.

Most other exchanges only support crypto withdrawals. This means transferring coins from the exchange to a private wallet, like Exodus. You’ll pay a small fee, which is often more than the real-time network charge.

For example, suppose the Bitcoin network is currently charging 0.000038 BTC. However, your exchange charges 0.000040 BTC, meaning a markup of over 5%.

Safety Tips and Best Practices When Using a Crypto Exchange

I’ve compiled some best practices to ensure you buy and sell crypto in safety. Consider the following tips when using crypto exchanges in the UK.

• Avoid Instant Buy Services: First, while instant buy services are the most convenient option, they’re super expensive. For example, buying Bitcoin with a debit card at Coinbase costs 3.99%. Instead, use a platform that supports manual GBP payments. eToro, for instance, offers fee-free deposits via debit/credit cards and e-wallets.
• Stick With Established Coins: It can be tempting to buy high-risk, high-reward coins, especially new projects with a small market capitalization. However, these coins are often extremely volatile, which won’t be suitable for beginners. Instead, consider more established coins like Bitcoin and Ethereum.
• Never Use Credit to Buy Crypto: Another important safety tip is to avoid using credit to buy crypto. This includes loans, credit cards, and funds you might need for core expenses (like rent). Only use funds you’re prepared to lose, as crypto prices could theoretically go to zero. This could leave you in debt without any means to repay the money.
• Keep Track of Gains and Loss: Keeping a trading journal is a useful step, especially if you’re actively buying and selling different coins. It will help you track which trades were profitable and analyze losses for making future improvements.
• Consider a Cold Storage Wallet: Leaving coins in a crypto exchange account is the easiest storage method. However, most experts advise withdrawing coins to a private, cold wallet. These come as small hardware devices and are always offline. This ensures you avoid online hacking threats. You’ll also avoid needing to trust an exchange to safeguard your investments.

Step-by-Step Walkthrough on Using a UK Crypto Exchange

I’ve covered everything you need to know about crypto exchanges. I’ll now explain how to get started in under five minutes, including opening an account, depositing funds, and placing your first trade.

• Step 1: Choose a Crypto Exchange: Research is crucial when choosing the best crypto exchange in the UK. My top pick is eToro, as it’s one of the few exchanges with FCA approval. It’s also suitable for beginners.
• Step 2: Open an eToro Account Account: Visit eToro and open an account, providing some personal information and a government-issued ID (e.g., a passport or driver’s license).
• Step 3: Deposit GBP: The minimum deposit requirement for UK investors is $100 (about £77). Choose a payment method from the list of options, such as a debit/credit card or e-wallet.
• Step 4: Search for Crypto: Type in the crypto you want to buy via the search bar. Click on ‘Trade’ when it appears. You can also view which crypto coins are available by clicking on ‘Discover.’ 
• Step 5: Buy Crypto: Finally, type in the investment amount, from $10 (about £7) upwards. Click ‘Buy’ to confirm. You’ve just bought crypto on eToro.

You can either leave the coins in the eToro account or withdraw them to a private wallet (recommended).

Conclusion

Hundreds of exchanges are available to UK investors. However, the safest platforms are approved and regulated by the FCA. That’s why I rate eToro as the overall best option. In addition to robust security, eToro offers a user-friendly experience.

UK investors can buy and sell over 100 coins, including Bitcoin, Ethereum, and Dogecoin. eToro also offers a free mobile app for iOS and Android, allowing investors to trade on the move.

Visit eToro

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

FAQs

What is the best cryptocurrency exchange in the UK?

The best cryptocurrency exchanges in the UK are registered with the FCA, ensuring a safe experience. This is why eToro is my overall top pick.

Which UK banks allow crypto exchange?

Most UK banks allow crypto purchases. However, transactions might be blocked when using exchanges without FCA approval.

Do you pay tax on crypto trading UK?

Yes, UK investors must pay tax when making crypto profits. Capital gains tax is based on ‘realized’ profits, meaning the crypto has been disposed of.

Can you withdraw crypto to a bank account UK?

Yes, but only when using an FCA-approved exchange that accepts GBP payments. Examples include eToro, Coinbase, and Gemini.

Does the FSCS cover crypto exchange deposits?

No, crypto coins are unregulated assets, so the FSCS doesn’t cover them. This is unlike stocks, ETFs, and other traditional investments.

Can crypto be held in an ISA?

No, ISAs currently don’t support crypto investments, meaning capital gains tax is required on profits over £3,000.

Is it legal to buy Bitcoin?

Yes, it’s legal to buy Bitcoin in the UK. Ensure you’re using a reputable exchange that’s approved by the FCA.

What security measures should I look for in a crypto exchange?

In addition to FCA approval, look for exchanges with verifiable proof of reserves, 2FA, and cold storage wallets.

Can I use debit or credit cards to buy crypto in the UK?

Yes, many exchanges accept debit/credit card payments in GBP. eToro accepts Visa, MasterCard, and Maestro without any charges.

What is the cheapest crypto exchange?

The cheapest crypto exchange for trading fees is MEXC, which offers 0% commissions to market makers. eToro is the cheapest for deposits, as no charges are incurred on GBP payments.

References

1. CASS 13.6 Segregation and the Operation of Client Money Accounts (FCA)
2. Cryptoassets: AML / CTF regime – Registering with the FCA (FCA)
3. Money Laundering Regulations (FCA)
4. Five Things to Consider About Cryptoassets (FSCS)